Storage systems for storing and displaying VCR tapes, CDs, cassettes and other media are in great demand as people look for ways of efficiently storing and displaying their media. One type of prior art storage rack provides a plurality of sets of three horizontal rods, one set above the other and supported between side stanchions. The rods of each set are offset from one another in both horizontal and vertical planes to form a cradle in which the media are held against one another, like books on a bookshelf but lying back at an angle. The angled disposition makes the titles of the media on their front edges easier to read and prevents the media from falling out of the rack. Examples of such storage racks are the PENGUIN line of storage racks available from Atlantic, Inc. of Santa Fe Springs, Calif. These are attractive knockdown racks available in different sizes to accommodate different numbers of CDs. Expansion and stackable models are also available. Unfortunately, these racks are not adjustable by the user to hold different sizes and types of media as his/her needs and desires change.